Srilanka, Feb. 27 -- Central Bank of Sri Lanka (CBSL) Governor Dr. Nandalal Weerasinghe urged the banking sector to prepare for Sri Lanka's third Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) framework evaluation, warning that a negative listing in the assessment could severely undermine the country's economic progress.

The evaluation, coordinated by the Asia/Pacific Group on Money Laundering (APG), is set to commence in the country in March 2026.

Given Sri Lanka's active role in the APG, Dr. Weerasinghe stressed that a 'Grey Listing' by the regional intergovernmental organisation could have serious financial repercussions for the country.

These include negative impacts on the country's correspondent banking relation...